The Pakistan Stock Exchange (PSX) experienced significant selling pressure on Monday, leading the benchmark KSE-100 Index to drop by more than 2,002 points during intraday trading.

By 1pm, the index stood at 116,400.16, reflecting a decrease of 2,002.55 or negative 1.69%.

The decline was primarily attributed to selling across major sectors, particularly oil and gas exploration companies, oil marketing companies, refineries, automobile assemblers, and fertilizer sectors.

Notable index-heavy stocks such as EFERT, INDU, MARI, OGDC, PPL, and PSO were among those trading in negative territory.

This downward trend follows a week of remarkable gains, where the PSX had reached an all-time high, buoyed by optimism surrounding a potential $1 billion staff-level agreement for the release of the second Extended Fund Facility (EFF) tranche.

The KSE-100 index had risen by 2,906 points, or 2.5%, closing at 118,442.18, compared to 115,536.17 points the previous week.

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